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Rich Dad Poor Dad

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Learning with Rich Dad

Spread across a few chapters in Rich Dad, Poor Dad, the author narrates his experience with Rich Dad learning the principles of money and work.

Learning the First Lesson

As a 9 year old, Robert Kiyosaki is rejected socially by the rich kids in his public school. He asks his dad, a teacher, how to get rich and make money, but his dad has no satisfactory answer.

He commiserates with his best friend Mike, the only other non-visibly-wealthy kid in the school. They start a misguided idea to melt down metal toothpaste tubes and mint their own nickels. Bemused, Robert’s dad (Poor Dad) suggests they talk to Mike’s dad (Rich Dad), who owns multiple local businesses and seems to be on a good path.

• Poor Dad also notes that the other apparently rich kids have parents who are just like him - they’re employed by the local plantation, and if the company gets into trouble, they’ll soon have nothing. Rich Dad is different since he seems to be paving his own way.

Rich Dad is busy, but meets with them early in the morning between his regular business meetings with his managers. Rich Dad has this dialogue:

• “Here’s my offer. I’ll teach you, but not like a teacher in a classroom. Work for me, and I’ll teach you. Don’t work for me, and I won’t teach you. You’ll learn faster if you work. That’s my offer. Take it or leave it.”
• “Can I ask a question first?” Kiyosaki asks.
• “No. Take it or leave it. I’m too busy to waste my time. If you can’t be decisive and make up your mind quickly, you’ll never learn to make money. Opportunities come quickly and go quickly. You need to know when to make fast decisions. I just gave you an opportunity that you asked for. Will you take it?”

They take the deal, which means working for 10 cents an hour in Rich Dad’s convenience store. They know this is an unfair wage.

After laboring for 3 hours over 3 weekends, Robert Kiyosaki gets upset and wants to quit. His friend is amused, since Rich Dad expected he’d want to quit, and wanted to meet afterward.

Before the meeting, Poor Dad advises the author to demand what he deserved - at least 25 cents an hour. If he doesn’t get the raise, Poor Dad counsels, Robert Kiyosaki should quit immediately.

Kiyosaki takes Poor Dad’s advice, and starts the meeting demanding more money, demanding to be treated better, threatening child labor lawsuits, and complaining the Rich Dad hasn’t taught him anything. Rich Dad replies: “Not bad. In less than a month, you sound like most of my employees.”

Rich Dad’s point of the exercise is this: